The City View: With Stefan Boscia July 12, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In today’s podcast, Andy Silvester is joined by City A.M.’s political reporter Stefan Boscia as we review the Sunday papers in light of the summer statement – and look ahead to tax rises, deficits and the political ramifications. Andy also discusses the Facebook boycott, Primark’s decision not to take [...]
Virgin Atlantic set to announce £1bn rescue deal July 12, 2020 Virgin Atlantic is reportedly finalising a £1bn rescue deal that would save thousands of aviation jobs in the UK. The airline, founded by Richard Branson, is finalising a deal to release tens of millions of pounds in credit-card cash that was being withheld. Sky News last night reported that Virgin was trying to resolve a [...]
Primark set to reject Treasury’s furlough bonus payment July 12, 2020 Primark will reportedly reject a £30m bonus handout unveiled in the Chancellor’s summer statement. The retailer has said it will not claim the £1,000 payment for every worker it brings back from furlough, according to the Sunday Times. Last night gambling firm William Hill also reportedly indicated it would also reject the furlough bonuses worth [...]
Private equity firms eye listed companies as economy starts to reopen July 11, 2020 The coronavirus pandemic has left a number of UK-listed companies scrambling for cash, with private equity firms tempted to swoop as the crisis develops. PE firms are eyeing opportunities as they move to deploy more of their dry powder into public entities as the economy starts to reopen in the wake of the coronavirus crisis. [...]
Pub-goers opt for pints on first weekend back but sales still fall short July 10, 2020 Consumers returning to pubs and bars last weekend seemed to be thirsting for their first pint of beer as lockdown restrictions eased in England, but sales still fell short. Beer sales held up best over the weekend of 4 and 5 July, according to data firm CGA’s new Drinks Recovery Tracker. However they were [...]
Ofcom fines Royal Mail £1.5m for missing delivery target July 10, 2020 Ofcom today fined Royal Mail £1.5m for failing to meet its regulatory first-class delivery target in 2018. The company is required by Ofcom to deliver at least 93 per cnet of its first-class post within one working day, but it fell to 91.5 per cent in 2018/19. The regulator said the postal service failed to [...]
‘I was mistaken for a cleaner’, says Gina Miller July 10, 2020 Investment manager and Brexit campaigner Gina Miller has revealed she was mistaken for a cleaner at a City of London event because of the colour of her skin. Miller, who grew up in Guyana and was named the UK’s most influential black person in 2017, said it is “extraordinary how those biases are still there”. [...]
Thames Clippers expands east with new pier at Barking Riverside July 10, 2020 River bus service Thames Clippers is expanding its service east with a new pier at Barking Riverside, City A.M. can reveal. The pier, which will be delivered in 2021, is the service’s 24th and marks a four km expansion to the east. Co-founder of Thames Clippers Sean Collins told City A.M. that he had approached [...]
London City Airport resumes international flights after three-month suspension July 10, 2020 International flights have resumed from London City Airport after a three month suspension due to the UK’s coronavirus lockdown. It comes as the government’s relaxation of quarantine rules takes effect, which will allow people to travel across Europe without quarantining on arrival. It has been met with massive demand from travellers, with bookings for flights [...]
Wirecard executive ‘touted Russian nerve gas documents’ July 9, 2020 Wirecard executive Jan Marsalek reportedly touted documents about the use of a Russian chemical weapon in the UK and bragged about ties to the intelligence services. Documents, which have been reviewed by the Financial Times and used in meetings in the summer of 2018, include the formula for the world’s deadliest nerve agent, novichok. The [...]
